This topic contains a solution. Click here to go to the answer

Author Question: A current ratio of 3.50 means a. There is 3.50 of current assets available to pay every dollar of ... (Read 99 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
A current ratio of 3.50 means
 a. There is 3.50 of current assets available to pay every dollar of current debt.
  b. There is 3.50 available to pay for all debt.
  c. There is 3.50 of current liabilities that need to be paid immediately.
  d. Nothing meaningful can be determined from this information.

Question 2

Hannah County has a total fund balance in the General Fund as of the end of the year of 1,565,000 . Assume the following:
   The budget officer decided to set aside 405,000 for new road maintenance.
 
  The county's governing board had previously given her this authority.
   Unspent restricted drug enforcement grant proceeds of 75,000
   The county's governing board passed a resolution to use 500,000 for construction of a fleet maintenance facility.
  In the year-end financial statements, Hannah County would report unassigned fund balance and assigned fund balance, respectively, in the General Fund as
  A. 1,085,000 unassigned fund balance; 405,000 assigned fund balance.
  B. 660,000 unassigned fund balance; 905,000 assigned fund balance.
  C. 585,000 unassigned fund balance; 405,000 assigned fund balance.
  D. 495,000 unassigned fund balance; 480,000 assigned fund balance.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yotaSR5

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

A

Answer to Question 2

C




xroflmao

  • Member
  • Posts: 515
Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it


hollysheppard095

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

For a complete list of videos, visit our video library